First American Financial Corporation $FAF Shares Acquired by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its holdings in First American Financial Corporation (NYSE:FAF) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,753 shares of the insurance provider’s stock after acquiring an additional 1,589 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in First American Financial were worth $2,318,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FAF. Atlantic Union Bankshares Corp bought a new position in shares of First American Financial in the second quarter worth $36,000. Ameritas Advisory Services LLC bought a new position in First American Financial in the 2nd quarter valued at about $48,000. Ransom Advisory Ltd acquired a new position in First American Financial during the 1st quarter valued at about $66,000. Jones Financial Companies Lllp raised its position in shares of First American Financial by 121.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,483 shares of the insurance provider’s stock worth $97,000 after buying an additional 813 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of First American Financial by 24.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,683 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 327 shares during the period. Institutional investors own 89.05% of the company’s stock.

First American Financial Trading Up 0.0%

Shares of FAF opened at $62.83 on Thursday. The business’s 50-day moving average price is $63.10 and its 200 day moving average price is $61.48. The stock has a market capitalization of $6.40 billion, a P/E ratio of 13.51 and a beta of 1.24. First American Financial Corporation has a 1-year low of $53.09 and a 1-year high of $70.92.

First American Financial (NYSE:FAF) last posted its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.28. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. First American Financial had a net margin of 6.80% and a return on equity of 11.01%. The business’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 earnings per share. On average, research analysts predict that First American Financial Corporation will post 5.35 earnings per share for the current year.

First American Financial declared that its board has authorized a share buyback program on Wednesday, July 23rd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the insurance provider to purchase up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

First American Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, December 8th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. First American Financial’s dividend payout ratio (DPR) is presently 47.31%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FAF shares. Barclays raised their price objective on shares of First American Financial from $70.00 to $71.00 and gave the company a “cautious” rating in a research note on Monday, October 6th. Weiss Ratings upgraded First American Financial from a “hold (c+)” rating to a “buy (b)” rating in a research report on Saturday, October 25th. Truist Financial upped their price objective on First American Financial from $73.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen raised First American Financial from a “hold” rating to a “buy” rating in a research note on Sunday, October 26th. Finally, Stephens initiated coverage on First American Financial in a report on Friday, November 14th. They set an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.00.

About First American Financial

First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Home Warranty segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services internationally.